Current situation of the stock markets
Today saw European and American stock markets move cautiously, reflecting investor uncertainty ahead of key events. At Piazza Affari, the Ftse Mib closed down 0.4%, to 34,540 points. Among the most affected stocks, Leonardo stand out with a decrease of 2.5%, Amplifon at -2.7%, Stm at -3.1% and Iveco at -3.2%.
In contrast, Diasorin and Bper registered an increase of 0.9% and 1.3% respectively.
Waiting for the US presidential elections
With the US presidential elections scheduled for tomorrow, investors are waiting for a possible head-to-head between the Trump and Harris candidates. Forecasts indicate an uncertain outcome in the early stages, which could further influence the markets. This climate of uncertainty is accentuated by the next Federal Reserve meeting, scheduled for Thursday, where interest rates are expected to be cut by 25 basis points
.
Central bank decisions and macroeconomic trends
Not only the Fed, but also the Bank of England will meet on Thursday, with the expectation of a reduction in the cost of money by 0.25%. Meanwhile, the quarterly season continues to influence markets, with investors closely monitoring the results of companies in both America and Europe. A significant macroeconomic figure expected is the US ISM Services Index, which will be published tomorrow, after the recording of a 0.5% drop in factory orders
in September.
Development of government bonds and commodities
In Italy, the manufacturing PMI showed a deterioration, falling to 46.9 points in October, signaling a slowdown in economic activity. On the bond front, the Btp-Bund spread remains stable at around 127 basis points, with the Italian 10-year yield at 3.66% and the German yield at 2.39%. As far as raw materials are concerned, Brent oil is trading at 74.7 dollars per barrel, after OPEC+ decided to postpone the removal of supply cuts. Tensions in the Middle East, in particular between Iran and Israel, continue to influence the market
.
Situation of the currency market
In the currency market, the euro/dollar exchange rate is just below 1.09, while the dollar/yen is down to 152. Market trends are influenced by a series of interconnected factors, which make the global economic environment increasingly complex and dynamic
.